I'll explain this the best I can for those who like to know more about the way I trade Ichimoku. This is a glance explanation and there is a lot more analysis which I didn't included but may in some micro analysis at a later date.
I thought i'd share this past chart analysis i found as we were presented a 9 wave count (usually means the end of the trend is near) followed by a nice correction to the upside. If you were too aggressive and didn't allow the market to communicate what it was really intending to do, you'd enter the market believing the bulls were back in control.
The down tread resulted in a P Wave forming around the 9 count (possibly traders taking profits or hopeful traders believing the trend would reverse) with price breaking the P Wave to the up side giving it some momentum (bulls). I included the failed N Wave which was never activated due to the price never breaking the B point, instead bears regained control sending price for another 7 wave count (E Wave calculation) of 1000+ pips ending close to a Ichimoku Number 129 (Combined 8).
1000 pips in a couple of days something you wouldn't want to miss thinking the trend had ended.
"When in doubt look to the clouds"
I thought i'd share this past chart analysis i found as we were presented a 9 wave count (usually means the end of the trend is near) followed by a nice correction to the upside. If you were too aggressive and didn't allow the market to communicate what it was really intending to do, you'd enter the market believing the bulls were back in control.
The down tread resulted in a P Wave forming around the 9 count (possibly traders taking profits or hopeful traders believing the trend would reverse) with price breaking the P Wave to the up side giving it some momentum (bulls). I included the failed N Wave which was never activated due to the price never breaking the B point, instead bears regained control sending price for another 7 wave count (E Wave calculation) of 1000+ pips ending close to a Ichimoku Number 129 (Combined 8).
1000 pips in a couple of days something you wouldn't want to miss thinking the trend had ended.
"When in doubt look to the clouds"
